§ 46. Sir P. GOFF (for Sir NICHOLAS GRATTAN-DOYLE)asked the Chancellor of the Exchequer whether he will have an estimate made, for the information of Members, of the sterling equivalent of German short-term debts due to British accepting houses covered by the fourth stand-still agreement of 15th February, 1934, and state, approximately, what proportion of the credit acceptances included in those debts are financed by credit resting upon deposits in the British clearing banks?
§ Mr. HORE-BELISHAThe amount of credits opened by British banking houses, which are covered by the stand-still agreement of 1934, is approximately £53,500,000. From the nature of the case it is not possible to make any estimate of the kind suggested in the second part of the question.
§ Sir ARTHUR MICHAEL SAMUELIs the hon. Gentleman aware that the Macmillan Committee of 1931 reported that information of this kind was not available, and recommended that information should be collected so that records would be at hand when inquiry was found to be necessary?